Affiliate Marketing Tech Company Foreground Launches ICO
While some businesses may be wary of cryptocurrency, the fact is that cryptocurrency has skyrocketed to a market of over $3 billion practically overnight
December 02, 2017
Foreground, a new blockchain-based technology solution company, has announced its launch of a token sale for its initial coin offering (ICO). The ICO is set to take place at midnight, UTC, on November 28, 2017.
Affiliate marketing has long been the answer to small and medium businesses looking to breakthrough and drive fast, inorganic traffic and sales. But affiliate marketing hasn’t come without its downsides, which can include fraud and “cookie stuffing,” where affiliates inflate their numbers and commissions. Foreground plans to eliminate this possibility with a platform that makes affiliate marketing more transparent and more efficient.
The affiliate network’s role is to make sure publishers are paid for the traffic they drive to advertisers’ sites, which is a very common, albeit expensive, arrangement. Affiliate networks can usually take up to 40 percent of an advertiser’s budget for any one campaign. Foreground has a blockchain-based platform upon which advertisers and publishers can interact directly, without the use of an affiliate network. The company also argues that current affiliate tools aren’t well suited to decentralized web infrastructure, or Web 3.0, whose popularity seems to be rising.
The whole idea behind Foreground has been to mitigate the inflated affiliated and sometimes-fraudulent affiliate marketing industry.
Foreground’s ICO is being conducted through a DEAL Token, a cryptocurrency that provides face value to advertisers in the form of discounts and other benefits. This platform deals in Ether (ETH), a more secure (though slightly less publically recognizable than Bitcoin) cryptocurrency specifically made for this type of blockchain technology. In short, if the value of ETH goes up, the value of the DEAL Token goes up, which means early buyers can sell the DEAL Tokens at a profit or use them for steep discounts.
“While some businesses may be wary of cryptocurrency, the fact is that cryptocurrency has skyrocketed to a market of over $3 billion practically overnight,” said Rick Feiner, Foreground founder and CEO. To his point, despite the speculative and unregulated nature of cryptocurrency, Bitcoin saw a huge rise in value earlier this year, surpassing $7,500. “The market shows no sign of slowing down at this point, especially as transactions become more and more digital.”
At its core, Foreground works with Ether to do three things:
It creates a payment tracking system that is compatible with cryptocurrency. Right now, there aren’t many ways to track payment that are specifically suited to cryptocurrency, which is why Foreground is compatible with ETH.
- It automates terms that affiliates would normally moderate themselves, using a “smart contract,” which Foreground defines as “contracts that operate without the possibility of fraud, censorship, or abuse.”
- It allows advertisers and publishers to form a history, a reputation whereby they’re rated and can gain trust with each other. Most people would recognize this function with Yelp or Amazon rating systems.
Foreground’s ultimate goal is to target the entire affiliate market, according to Feiner. “This includes the market for technology, home, sports, and fashion products,” he said.
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